Regulatory
Ownership structure
EthiFinance SAS*
100%
Sustainability SAS*
100%
GmbH
100%
Ratings SL*
100%
GmbH
100%
Ltd
EthiFinance Group, whose headquarters are based in Lyon, France, operates in Germany, Spain, France and the UK, as well as in the US, Japan and India, through a network of subsidiaries and branches.
EthiFinance SAS is the parent company of EthiFinance Group.
EthiFinance SAS is held by Andromède, Energy Impact Partners, Meridiam and Club Rating, which together hold up to 90% of the share capital. EthiFinance SAS acts as the holding company of the Group, providing central support functions to the group, advisory services and Credit Research.
EthiFinance Sustainability SAS, a wholly owned subsidiary of EthiFinance SAS, intends to apply for authorisation from the European Securities and Markets Authority (ESMA) as an ESG Rating provider in accordance with Regulation (EU) 2024/3005.
EthiFinance Ratings SL, a wholly owned subsidiary of EthiFinance SAS, is a regulated entity under Regulation (EC) No 1060/2009 of the European Parliament and of the Council, authorised and supervised by ESMA to provide Credit Ratings.

Policies
As an ESG rating provider subject to Regulation (EU) 2024/3005 on ESG rating activities, EthiFinance Sustainability SAS is committed to the highest standards of transparency, integrity and independence.
The following policies are made publicly available to provide clear insight into the governance framework supporting our activities.
Conflict of interest policy
Sets out the framework to identify, prevent and manage conflicts of interest, ensuring the independence, integrity and objectivity of all activities.
Feedback and complaint handling policy
Outlines the process for receiving, handling and resolving feedback and complaints, ensuring they are addressed promptly, fairly and in a transparent manner.
Pricing policy
Defines the principles governing pricing arrangements, ensuring consistency, fairness and transparency in the application of fees across products and clients.
Feedback and complaint handling tool
Access the dedicated channel to submit feedback or raise a formal complaint regarding our ESG rating activities.
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